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iPay End User Agreement

This
End User Agreement(Agreement) is entered
between you and iPay (Pvt)
Ltd (iPay).This
Agreement is a legally binding contract between you and iPay,
that sets forth the terms and conditions governed your usage
of iPay. By
registering an account with iPayor
using any of the services, you agree that you have you read,
understood and accept all the terms and conditions contained in
this Agreement.

"We,
Us,
Our, iPay shall
refers to iPay (Pvt)
Ltd and
any agent or an assignee iPay (Pvt)
Ltd.iPay shall
means the iPay payment platform.
"You, Your,
customer and
user"
refers to the individual or entity that has agreed to
use iPay payment
system in accordance with this agreement.

Hereinafter
jointly called and referred to as the "Parties" and
individually as "Party".

Scope
of the Agreement

iPayis
an online
paymentplatformthat
supports single or recurring payments via Internet. Users
are able to
pay their bills from
accounts, send expedited
payments, and make person-to-person electronic payments.

User
can accept this agreement by clicking
"Accept / Agree to the Agreement", on the website for the
service or via mobile application for the service
and this shall create and represent a legally binding agreement
between parties.

You
agree that your usage ofiPay will
be governed by this agreement and
any other regulations set forth by the Government of Sri Lanka.
You will use iPay in
accordance with all applicable laws and will not use iPay for
any illegal or fraudulent purposes, or purposes that are
prohibited.iPay is
not intended for use by any person other than customers authorized
to use the bank account pursuant to all agreements between you and
the bank that maintains your bank accounts and
for corporate customers; if you
are not the authorized party to
carry out transactions on the respective bank accounts, you may
not use iPay.

Term

The
agreement will be effective from the date of acceptance by the
client ("Effective date") and shall be inforce until it is
terminated by
either party.

Mode
of Operation

To
be eligible for the Services provided by iPay,
the user must

be
a resident of Sri Lanka and

has
full legal capacity to enter into an agreement.

User
further, represents and warrants that the user is not acting on
behalf of or for the benefit of anyone else unless in case of
opening the account for and under the direction of the company,
legal person or entity.

You
are responsible for providing valid, complete and up-to-date
information for all required elements on the registration and you
are solely responsible for changing and updating the same without
any delay. iPay may
request further information to be provided time to time and you
shall be responsible for providing the same as requested.

We
reserve the right to maintain your account registration
information after you close your account for regulatory purposes
and we guarantee that the information will not be utilized for
any other purposes.

Use
of iPay requires
your device to have access to internet connection and all
bill payment/s you make through iPay will
be transacted through various service providers and you shall be
responsible for any levies, charges
or fees that can be imposed on those transactions by those
service providers.

The
customer shall bear complete responsibility for all payment
instructions originated from their devices including any
instructions that maybe generated as a result of viruses,
spyware, social
engineering or other
malware or any other attack.

You
acknowledge and agree that, debiting your designated
account/s for your payment/s instructions
and crediting the
payee account, may not always carried out simultaneously and
that, certain instructions may be processed after a delay even
though the service may be accessible at
the time.

Further,
cancellation of the transactions and reversal of transactionsshall
take place through
normal banking dispute resolution procedures and iPay shall
not be held responsible or accountable for any such
dispute.

iPay may
introduce software updates or
upgrades time
to time and you
acknowledge and agree that complying with such system
requirements, which may be changed from time to time are solely your
responsibility. Since
the use of iPay involves
hardware, software and internet access and applicable updates;
your ability to use iPay may
be affected by the performance of these factors. Further, iPay shall
not be held responsible for any malfunctions of the software in
an event the user failed to keep the software up to date. iPay expressly
reserve the right to change, modify, update, remove, revise or
otherwise change any portions of the iPay application
at any time and in no event iPay shall
be liable for any claims
or damages caused by or arising out of such action.

iPay may
occasionally restrict the functions of the application or
completely make dysfunctional to allow for repairs or maintenance with
prior notice and user hereby grant consent to receive notices,
disclosures and other communications regarding iPay via
email/SMS or any other communication method that you have
requested.

For
regulatory, risk and security purposes iPay may
impose limitations on the maximum amount per transaction and
number of transactions per day.

For
your protection we are using, industry standard security
mechanisms which will change from time to time reflecting the
existing threat landscape

If
the user willingly give the
device, or disabled existing security mechanisms and give the
phone to somebody else, and txns occur:
user is responsible

Account
Suspension and Closure

iPay may,
in our sole discretion, without any liability, refuse to let you
open an account, suspend your account or terminate your account or
restrict your usage of one or
more of the services.

Such
actions may be taken as a result of account inactivity, failure to
respond to customer support requests, failure to positively
identify you or your violation of the terms of this
agreement.

You
may terminate this agreement at any time by closing your account
and discontinuing use of the services. Provided that, you shall be
liable for all transactions made while the account was
open.

Grant
of License and Restrictions

iPay hereby
grants You a non-exclusive, non-transferable, limited, personal
and revocable right and license to access and use iPay for
your personal use only. You acknowledge and agree that some of
the functionalities or services offered by iPay may
be provided by iPay™ affiliates
or subcontractors
on behalf of iPay.

You
may not reverse-engineer, copy, decompile, disassemble, derive
the source code of, modify, adapt, capture, reproduce, publicly
display, publicly perform, transfer, sell, license, create
derivative works from or based upon, republish, upload, edit,
post, transmit, distribute, exploit, circumvent or otherwise
translate (or encourage or assist any other person to do any of
the foregoing) iPay in
whole or in part.

You
shall not interfere or attempt to interfere with the operation or
use of iPay in
any way through any means or device including, but not limited
to, spamming, hacking, and uploading computer viruses or time
bombs, or any other means. You may not use iPay for
commercial purposes or for any purpose that is unlawful or
prohibited by the iPay.
You are specifically prohibited from using iPay in
connection with any contents, services, programs or applications
that (i)
are in violation
of any third party rights, including but not limited to
intellectual property rights; or (ii) contain viruses or other
harmful software, code or other malwares that impact or limit the
functions or services provided by iPay or
the mobile devices supporting iPay.

Limitation
of Liability

User
understand and acknowledge the
inherent risks in online
transactions and agree that iPay shall
not be liable or responsible for any
termination, suspension or any damages caused what so ever due
to user
actual late
payments or late payments due to internet
connection failure or
any other malfunctions in iPay system.

Security
of User Information

You
must register either your fingerprint image, retina image,
password, PIN or any suitable, complex authentication mechanism
available in your Device to prevent others from accessing or
using the iPay application
on your Device. You agree to keep Your authentication information
confidential at all times. If you
lose your
Device or
suspects of a possible third party activity, then
You must take
immediate steps to deactivate the iPay account
vis web platformto
prevent use of the iPay application
by others. Failure
to comply with such requests will result in iPay being
held harmless in the event of unauthorized transactions being
carried out through the iPay application
on your device.

iPay is
not bound to carry out the instructions given by the Customer,
if iPay at
its sole discretion believes that such instructions do not
emanate from the Customer.

The
Customer hereby agrees to accept full responsibility for all
transactions processed from the use of the iPay application
using the Customer mobile device, even if the instructions were
not authorized by the Customer and to accept iPay™ record
of transactions as conclusive and binding for all purposes.

We
may ask you at any time to confirm that you comply with
Anti-Money Laundering, Anti-Terrorist Financing and other similar
acts or legislations mandated by the Government of Sri Lanka.
Failure to comply with such requests may result in your iPay account
being suspended. Application
of iPay

Privacy

iPay may
collect non-personal identification information about Customers
whenever they use the facility,for give
you a better user experience via iPay platform. .
Non-personal identification information may include, but not be
limited to, the browser name, transactional
data, location
data, the
type of devices and
technical information such as the operating system, the Internet
service providers utilized and other similar information.

iPay may
use any such information stored for several purposes, not limited
to: processing transactions, administering accounts (which
includes verifying personal information in order to safeguard
data) and responding to complaints.

iPay may
monitor usage of the application for security and
improvement purposes.

.

iPay adopts
appropriate data collection, storage and processing practices and
have implemented reasonably adequate security measures and
controls to protect such information against unauthorized access,
alteration, disclosure or destruction. However, iPay shall
be entitled to make any disclosure required by regulations set
forth by the Central Bank of Sri Lanka and the legislature of the
Democratic Socialist Republic of Sri Lanka, without prior or post
notification to the Customer.

Disclaimer

Disclaimer
of Warranties. To the extent permitted by law, iPay is
provided "as is", "where is" and "as available" and
without warranties of any kind. To the extent permitted by
law, iPay and
its licensors make no representations or warranties or guarantees
of any kind or nature, whether express or implied, relating
to iPay,
and specifically disclaims all such warranties including, without
limitation, any implied warranty of merchantability, fitness for
a particular purpose and non-infringement. without limiting the
previous disclaimer, To the extent permitted by law, iPay and
its licensors do not represent, warrant or guarantee that
the iPay application
will (i)
operate in an uninterrupted, timely, secure or error-free manner,
(ii) always be available or free from all harmful components or
errors or (iii) be secure against or immune from (including the
content delivered to you or the information you provided) any
unauthorized access.

Disclaimer
of Certain Damages. IN NO EVENT SHALL iPay OR
ITS LICENSORS BE LIABLE TO YOU FOR ANY INDIRECT, INCIDENTAL,
CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE DAMAGES OR LOST
PROFITS, EVEN iPayHAVE
BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES. THIS MEANS THAT
YOU HEREBY WAIVE ANY AND ALL RIGHTS TO ANY INDIRECT, INCIDENTAL,
CONSEQUENTIAL, SPECIAL, EXEMPLARY, PUNITIVE DAMAGES OR LOST
PROFITS FROM iPay AND
ITS LICENSORS. THIS LIMITATION AND WAIVER ALSO APPLIES TO ANY
CLAIMS YOU MAY BRING AGAINST ANY OTHER PARTY TO THE EXTENT
THAT iPay WOULD
BE REQUIRED TO INDEMNIFY THAT PARTY FOR SUCH CLAIM. YOU ARE
SOLELY RESPONSIBLE FOR ANY DAMAGE OR LOSS IF YOU ALLOW ANYONE
(SUCH AS ANOTHER USER OR A MERCHANT) TO USE OR HANDLE YOUR DEVICE
AND/OR iPay APPLICATION.

Indemnification

You
agree to indemnify and hold iPay, its
affiliates and service providers harmless from any claims or
demands arising out of your breach of this agreement or violation
of any Laws or regulations.

Miscellaneous

Force
Majeure:iPayshall
have no liability for any failure or delay resulting from any
condition beyond our reasonable control, including but not limited
to governmental action or acts of terrorism, natural disasters or
other acts of God and internet disturbances.

Amendments: We
may amend any portion of this agreement
at any time by posting the revised version of this agreement with
an updated revision date. The changes will become effective,
and shall be deemed accepted by you.In
the event that you do not agree with any such modification, you
shall close your account and terminate this agreement. You agree
that, we shall not liable to you or any third party for any losses
cause due to such modification.

Governing
Law:Agreement
shall be governed by the Laws of Sri Lanka.

Security:15.Parties
agree to comply with the security procedures and requirements
described in this agreement and such other security procedures as
determined by the parties time to time which are subject to
change with prior notice to respective party

Assignment:You
may not transfer or assign this agreement or any right or
obligations you have under this agreement. We reserve the right to
assign or transfer our rights and obligations without prior
notice.